In 1984 Kew Council, with the support of Mt. Royal Hospital, the owners of Villa Alba, established the Villa Alba Preservation Committee, a community-based body charged with managing and restoring the house. Sir Rupert Hamer agreed to act as its inaugural Chairman.
In 1985 the Mt. Royal Hospital granted a 25 year lease to the Kew Council (later the Boroondara Council) for the historic house and some land.
By 1996 the committee had resolved to establish a museum and resource centre of nineteenth century interior decoration at Villa Alba.
In 1999 after passing through the hands of several hospitals, Villa Alba was sold by the St Georges and Inner Eastern Healthcare Network to the Society of Jesus for the use of Xavier College.
A deal was brokered by the Department of Infrastructure in 1999 and, in August 2004, the Villa Alba Museum Incorporated gained title to the house and its original grounds. Xavier College was given the right to lease part of the original land put in trust for Mrs Greenlaw in 1862 for passive use by the students of Xavier’s Early Learning Centre built on land which had been later acquired by Mrs Greenlaw.